48461 ÷ 4 = 12115 R1
Alright, let's work through the division of 48461 by 4 step by step.

Step 1:
4 goes into 4 1 times with a remainder of 0.
Write down 1 as next digit of of the result. 
Result so far: 1
Subtract 4 from 4 to get 0.
Bring next digit (8) of the dividend behind the 0 and repeat the process: 8 / 4

Step 2:
4 goes into 8 2 times with a remainder of 0.
Write down 2 as next digit of of the result. 
Result so far: 12
Subtract 8 from 8 to get 0.
Bring next digit (4) of the dividend behind the 0 and repeat the process: 4 / 4

Step 3:
4 goes into 4 1 times with a remainder of 0.
Write down 1 as next digit of of the result. 
Result so far: 121
Subtract 4 from 4 to get 0.
Bring next digit (6) of the dividend behind the 0 and repeat the process: 6 / 4

Step 4:
4 goes into 6 1 times with a remainder of 2.
Write down 1 as next digit of of the result. 
Result so far: 1211
Subtract 4 from 6 to get 2.
Bring next digit (1) of the dividend behind the 2 and repeat the process: 21 / 4

Step 5:
4 goes into 21 5 times with a remainder of 1.
Write down 5 as next digit of of the result. 
Result so far: 12115
Subtract 20 from 21 to get 1.

The final result is 12115 with a remainder of 1.